What the fuck is wrong with INTC management, buying MFE at such a lofty premium? They’ve raped their own shareholders, while gifting the founder/head gambler of MFE with an absurd payday. Then again, WTF do I know?
I am just days away from heading to the west coast, where I will terrorize iBC partner/blogger Spydercrusher aka Danny and throw molotov cocktails into the decadent offices of Howard Lindzon aka a man interested in “hedging” his own health. Asshat! Basically, I’ve been working too hard and find myself somewhat tired of the daily grind. As you well know, “The Fly” is the hardest working man on the planet, even more so than illegal Mexicans and entry level applicants at FOXCONN.
DO NOT FEAR, for I will blog while on vacation.
As for this tape:
It doesn’t feel right. I get the sense we are due for a little drop here. However, that’s okay, if your timeframe is longer than 6 hours. Relax and chill the fuck out. Your account balance is supposed to fluctuate. You will drive yourself crazy if you watch the valuations on an hour by hour basis. Where do you want to see your account by 10/1? Set your goal and work towards that goal, as if you were a distinguished gentleman, something we both know you certainly are not.
As for me, I remain, stubbornly, hedged—with a long bias. I expect to make less and lose less.
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Why’s nobody commenting?
First & foremost, let’s talk about being “all in” ahead of the jobs claims numbers – what did you expect?
Who said I was “all in”?
Are you able to discern the difference between “all in” and “fully invested” or no?
Still 10% cash and 25% VXX=35% NOT all in.
Second – enjoy Kalifornia, I’ll see you on Venice Beach or are you visiting Timmay in SD?
I just returned from South Dakota on Sat. was in the Black Hills area, very nice.
Timmah is in Palo Alto — that’s Northern California, and about as far away from where Fly’s going in San Diego as his office in NY is to Hilton Head, SC.
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I’m sitting in a small-town library in South Dakota at the moment, having traveled with a van full of kids from San Diego. No such thing as internet in the old family farmhouse.
We hit the Black Hills on the way through. Got hailed on. Got surrounded by buffalo. Still lots of bikers there after the big rally in Sturgis.
It’s like a reverse version of Parkman’s The Oregon Trail!.
Watch out for Sioux.
And banshees.
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Taking children across state lines with intenttions of buggery is a crime.
Mmmmm.
“The Fly Contrarian Indicator” is working like a dream, I may patent it!
Stop moved to 1089 locking in +10 pts.
If you had used him as a contrarian indicator when he actually called the long bias back around the 13th you would be down. You can’t pick and choose what days to criticize while ignoring others. Even if you had a trader who was right 100% of the time with their calls (impossible) you still get chop in the middle of the holding period which puts them momentarily down. Stop posting please, dipshit.
The PPT #’s for the general market seem to be most accurate, when we get the low reading it usually pops within a week. Fear and greed are not your friends in investing, and I am concerned with certain banking shills that promote one or the other (Cramer is an example – former GS) to manipulate trading psychology. “All In” and “Balls Deep Long” would be examples of the trading psychology that makes it easier for market maker manipulators to pick off investors – it is a zero sum game. I am not stating that Fly is an agent, just that it is easy to become convinced on direction due to fear and greed.
I agree, nobody is right 100% of the time since we don’t know the future. I believed we would have a long bias due to POMO activity, and I think without this we would be down even more. I have made the mistake of following the Fly with both very bullish blog posts from an emotional standpoint as it impacted my trading – bought FAS and TNA where I had not planned on it. I have also made serious money from the PPT #’s. My only point is emotion can be the enemy (fear and greed) when trading. PPT #’s are analytical and objective. When the ppt# gets near 3 in the future I will ease off (recently hit 2.98) and get ready for a lower market. I was also greedy and did not sell my calls after the large rally as I was waiting for the 3.1 on the ppt, but I am up against the clock with expiration tomorrow.
He is a toothless Brit.
It’s tough to overcome dental envy.
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Looking forward to being verbally abused while your away!
I need my daily dose of a good tongue lashing, so happy to
hear you will be blogging on vacation.
Have a safe trip.
Fly…..Hey enjoy our side of the States….you know it’s not a bad place to live…Does anyone know where Howard lives? Southern or Northern Calif??
I thought he lived in Scottsdale, AZ.
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scottsdale, but vacations/works a lot in la jolla.
Thanks guys, I just assumed he lived in California…Scottsdale AZ….strange.
You should go to ground zero in Orange County and build a House of Cards.
Or a delcious House of Pancakes.
yummmmm, pancakes
Im on vacation here myself. But, i had to stop in to reiterate what I said a few days ago: Monday’s low was likely the lows for the fall, in the SPY.
Intel has the world’s best product ever, but their ability to manage and strategize is horrible!
-7.7 from philly fed, 1.1 % revised GDP, jobless claims 500K this week, we’re letting these camel fuck build mosques at ground zero!!! Sell America
It’s not ground zero. It’s Burlington Coat Factory.
W. a pair of landing gear from one of the planes lodged in the ceiling.
Have some respect, eh?
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I have a ton of respect. Talk to your dumbass mayor. If it’s gonna happen, belittle the thing.
Nurse Bloomberg ain’t my mayor.
When I lived there it was “Buckie” Guiliani.
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i dunno why
but I think its time to load up long, at this very moment
10:56 am thursday august 19
I just reversed long
WTF is Intel doing? They are doing what all the huge cash heavy corps do – over pay for stuff that will eventually go to zero. Even Jobs will eventually spend for something like ” Columbia Pictures” if they still exist.
At least Columbia Pictures has resaleable IP. McAffey is one virus away from obsolescence.
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Gm ipo and bhp buyout of pot and intc buyout of mfe is a sign of a top. GM is classic case of too large of offering chasing too little capital,much like Visa in march of 2008. There may be a rally here, but the point is, it wont last as the ability for funds to roll into the markets will get exhausted along with stock prices. If the market rallies it only makes for a bigger crash in september
Please explain because I don’t understand how cash transactions are a sign of a top? If they were using stock, I could agree with you.
It’s not a sign of a top yet– it’s just beginning. When things really get rolling and it looks like a never ending trend– that will be the top.
bingo.
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And that could be 18 months from now?
I’m thinking more like six to eight.
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UUP Long
That’s crazy…
Ya follah??
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(Sorry, I’ve been meaning to work that in for weeks now)
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I love it, “The name’s Lonnegan, ya follah, your gonna remember that or you’re gonna get yourself another game”
Best movie ever…period….
tried to get my teenager to watch and he bailed in about 20 minutes…
Nothing like shaaarking for a living…get your busineses back on a paying basis…
you go in the cage, cage goes into the water, sharks in the water……Farewell and adieu to you fair spanish ladies, farewell and adieu to you ladies of spain…..
Y’all know me. Know how I earn a livin’. I’ll catch this bird for you, but it ain’t gonna be easy. Bad fish. Not like going down the pond chasin’ bluegills and tommycods. This shark, swallow you whole. Little shakin’, little tenderizin’, an’ down you go……The quotes are endless!
LOL — Two Robert Shaw avatars in one site?
That’s even better than the Dune references.
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Yeah, now all we need is another guy with Shaw’s German officer from The Battle of the Bulge and we’ll have all Three Stooges on the blog.
What are you having for lunch? Grape sandwiches?
Mmmmmm.
Stop to 1079. Locked in +20.
Thanks Fly.
How is that pickle throwing going?
ha…
Bought “der grip” of TNA @ $35.50
SHLD now down 50% from its high. one of my top 8 shorts.
Im bullish on the market here. But, i wouldn’t touch SHLD at any price. When i worked there in college, in 1998, they couldnt do well in a PRIME spot at a major shopping mall. The competeition has only gotten worse since then. They are the “blockbuster video ” of department stores.
MFE may be a genius buy for Intc– they can put the anti-virus right on their pentium chip, bypassing MSFT who seem incapable of protecting their shit.
Interesting wrinkle!
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Dear Le Fly: Have a safe trip but be careful. Those folks on the left coast have been known to carry strange incurable disease.
Breastus Pontoonicus?
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Fly,
Have them take you to the horse races at Del Mar. Women in stupid floppy hats, infield full of yocals with too many tattoos to count, but cold drinks and plenty to bet on.
this could make your rotation of theme songs
http://www.youtube.com/watch?v=GGXzlRoNtHU
developing
Developers are down.
I’m out on the road today and quite busy. I will ignore those red numbers I see on my handy iPhone and make money the old fashioned way today.
I see Merger Mania has excited the likes of Intel… They won’t be the last.
Is it time for a sector rotation? Manufacturing, industrial, electronic parts have been hot YTD. Perhaps this is the top for them?
(From Labor Department)
State – Employment Change – State Supplied Comment
TX +1,071 Layoffs in the service and manufacturing industries.
IL +1,150 Layoffs in the construction, trade, and manufacturing industries.
FL +1,199 Layoffs in the construction, trade, service, and manufacturing industries.
OR +1,268 No comment.
MI +1,347 No comment.
GA +1,458 Layoffs in the construction, trade, service, and manufacturing industries.
PA +1,626 Layoffs in the transportation, industrial machinery, construction, and service industries.
NC +1,895 Layoffs in the construction, service, industrial machinery, computer equipment, electrical equipment, electronic equipment, and textile industries.
IN +1,999 Layoffs in the automobile and manufacturing industries.
CA +4,393 Layoffs in the service industry.
you know my favorite part of that weekly report is the comments with the States that Gained and loss numbers,…I am really strange….
hide ya kid, hide ya wife, and hide ya husband, cause they raping everybody out her
You take more vacations than Obama!
Just don’t go the way of the Druckenmiller burnout.
Enjoy the fruits or your labor (and stay clear of the fruits in CA).
^..of your labor…^
(Edit button ,…..anyone????)
Welcome back, Ottnott.
His census gig just finished.